By investing in Kisan Vikas Patra (KVP), your cash will double in 10 years and 4 months. Let us know the rate of interest and options of this scheme intimately.
By investing in Kisan Vikas Patra (KVP), your cash will double in 10 years and 4 months.
If you might be considering of investing within the coming days, then you possibly can put money into small financial savings schemes of the put up workplace. The cash invested in that is safer than banks, as there’s a sovereign assure of the federal government on the quantity deposited in it. Kisan Vikas Patra (KVP) can also be included in these schemes. By investing on this scheme, your cash will double in 10 years and 4 months. Let us know the rate of interest and options of this scheme intimately.
Rate of curiosity
At current, the rate of interest of 6.9 p.c every year is current within the Kisan Vikas Patra Scheme of the Post Office. The rate of interest on this small financial savings scheme is compounded on an annual foundation. The quantity deposited on this scheme will double in 124 months i.e. 10 years and 4 months.
funding quantity
In Kisan Vikas Patra, one can make investments a minimal of Rs 1000 and multiples of Rs 100. There is not any most restrict for funding on this scheme. In this scheme, an individual can open any variety of accounts.
Who can open account?
An grownup can open an account within the Kisan Vikas Patra Scheme of the put up workplace. Apart from this, as much as three adults can even open joint accounts collectively within the scheme. In this small financial savings scheme, a guardian can even open an account on behalf of a minor or an individual of weak thoughts. Under this scheme, a minor above the age of 10 years can open an account in his personal identify additionally.
maturity
The quantity deposited on this put up workplace scheme will mature from the date of deposit on such interval of maturity as could also be prescribed by the suitable Ministry of Finance occasionally.
Close the account earlier than maturity
Kisan Vikas Patra may be closed at any time earlier than maturity below sure circumstances. In this scheme, the account may be closed on the dying of a single account holder or all of the account holders current within the joint account. Apart from this, the account will also be closed on the order of the courtroom. In this scheme, the account may be closed even after two years and 6 months from the date of deposit.
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